Ad-hoc | 26 March 2003 01:00

AC-Service AG english

AC-Service Increases Sales, Profit and Cash Flow Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sales climb by 10% to EUR 52.0 million. EBIT improves to EUR 3.4 million (EUR 1.4 million) in continued divisions. Cash and cash equivalents total EUR 12.3 million (EUR 6.4 million). Strong balance sheet. Stuttgart, 26 March 2003 – AC-Service, providing IT services focused on outsourcing and consulting, closed its 2002 financial year with sales increasing 10% to EUR 52.0 million (EUR 47.2 million), an EBITDA of EUR 10.1 million (EUR 7.6 million) and an EBIT of EUR 3.4 million (EUR 1.4 million) in its continued business divisions. The EBIT margin to sales was over 6%. The after-tax profit of EUR 1.6 million (EUR 1.0 million) equates to earnings per share of 29 euro cents (prior year: 19 euro cents) in the continued divisions. Bad-debt provisions were made against all the residual claims against Bäurer AG, Hüfingen, following its insolvency announced on 23 October 2002. This action led to an after-tax loss in the discontinued business division of EUR 0.4 million (EUR 0.0 million). Taken together, these continued and discontinued divisions posted earnings per share of 22 euro cents (19 euro cents). As a result of the stock buy-back programme (29 August to 23 December 2002), the number of outstanding shares declined from 5,400,000 to 5,269,732 (as at 31 December 2002). Cash flows from operating activities (after taxes) soared to EUR 12.2 million (EUR 5.7 million). AC-Service enjoys a solid and healthy balance sheet that is proving itself to be a powerful competitive edge, especially in outsourcing projects where long-term partnerships are established. Cash and cash equivalents as at 31 December 2002 totalled EUR 12.3 million (31 Dec 01: EUR 6.4 million), while the EUR 26.2 million in equity (31 Dec 01: EUR 25.4 million) makes up 59% (31 Dec 01: 62%) of the balance sheet total EUR 44.6 million (31 Dec 01: EUR 41.1 million). As of 31 December 2002, AC-Service employed a staff of 326 (prior year: 323). The company’s focus on high-quality outsourcing and consulting services provided by the IT Outsourcing, Human Resource Services and SAP Consulting business divisions forms an extremely well-balanced portfolio together with its other business activities. Find out more on the Internet at http://www.ac-service.com end of ad-hoc-announcement (c)DGAP 26.03.2003 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 260100 Mär 03